Posted October 24, 2016
The US dollar would turn out to have some fascinating results against a number of European currencies this time around. But how good would the outcome be on Friday night?
There’s a good start in store for the US dollar today, as it perks up from 0.8172 to 0.8230 against the British pound. But what would happen throughout the rest of the week? It made a good start against the euro too, rising from an opening rate of 0.9089 to 0.9095 today. The dollar opened on 0.9897 against the Swiss franc on Monday morning, but this soon dropped back to 0.9889.
Yesterday may have seen a good result against the pound, but today the dollar had a tougher time. It slipped back to 0.8147, falling below Monday’s opening rate. More good news definitely came by way of the euro exchange rate though, because the dollar closed out today’s trading on 0.9096. Only a small increase, but we were headed in the right direction. We had a good day against the Swiss franc too, as the dollar recouped yesterday’s losses and went one further to improve to 0.9902 today. Where would it end up by the time another three days had gone by?
More bad news for the US dollar today, as the British pound seemed to have found some strength. This meant the dollar fell to 0.8137 by the close of play. The dollar did manage to get the third good day in a row against the euro though, as it finished on 0.9108 today. After yesterday’s good news against the Swiss franc, the dollar slipped back ever so slightly today to close on 0.9886. Was this the start of a slippery slope to Friday night?
Finally, things started to turn around against the British pound. The dollar finished the day better off with a rate of 0.8157. But would today be the day the rot set in against the euro, because the dollar slipped ever so slightly back to 0.9107? We would soon find out the answer to that one, as we have just one day left to go of this trading week. Another drop was seen against the Swiss franc too, taking the dollar back to 0.9883.
The dollar certainly managed a good finish this week, as it climbed to a good closing rate of 0.8205. Not quite the best of the week but good enough. Saving the best for last was something the dollar clearly reserved for elsewhere this week. It managed a significant improvement against the euro, rising to 0.9186 in the process and managing to snag the best rate of the week at the last minute. Exactly the same thing happened against the Swiss franc, as the dollar got a closing rate of 0.9943 today. This was undoubtedly a great finish and it cemented the dollar’s place as one of the stronger currencies this time around.